Community Development Financial Institutions Fund 2006 – Federal Register Recent Federal Regulation Documents

New Markets Tax Credit Program
Document Number: E6-20669
Type: Notice
Date: 2006-12-06
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
This NOAA is issued in connection with the calendar year 2007 tax credit allocation round of the New Markets Tax Credit (NMTC) Program, as authorized by Title I, subtitle C, section 121 of the Community Renewal Tax Relief Act of 2000 (the Act). Through the NMTC Program, the Community Development Financial Institutions Fund (the Fund) provides authority to CDEs to offer an incentive to investors in the form of a tax credit over seven years, which is expected to stimulate the provision of private investment capital that, in turn, will facilitate economic and community development in Low- Income Communities. Through this NOAA, the Fund announces the availability of $3.9 billion of NMTC authority, which includes $3.5 billion authorized by the Act and $400 million authorized by the Gulf Opportunity Zone (GO Zone) Act of 2005 (Pub. L. 109-135) for allocation to CDEs seeking to finance redevelopment and recovery in the Hurricane Katrina GO Zone. In this NOAA, the Fund addresses specifically how an entity may apply to receive an allocation of NMTCs, the competitive procedure through which NMTC Allocations will be made, and the actions that will be taken to ensure that proper allocations are made to appropriate entities.
Proposed Collection; Comment Request
Document Number: E6-18651
Type: Notice
Date: 2006-11-06
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Fund within the Department of the Treasury is soliciting comments concerning the NMTC Program allocation agreement for NMTC Program allocatees.
Proposed Collection; Comment Request
Document Number: E6-18650
Type: Notice
Date: 2006-11-06
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
The Community Development Financial Institutions Fund (the Fund), a government corporation within the Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Fund is soliciting comments concerning the Fund's conflict of interest reporting requirements for contract readers of applications submitted for funding under the Fund's various programs.
Proposed Collection; Comment Request
Document Number: E6-18649
Type: Notice
Date: 2006-11-06
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
The Department of Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community Development Financial Institutions Fund (the Fund) of the Department of the Treasury is soliciting comments concerning an information collection required by the allocation agreement that will be entered into by the Fund and allocatees of the New Markets Tax Credit (NMTC) Program. The specific information collection relates to the section of the allocation agreement that requires an allocatee to provide notice to the Fund of the receipt of a Qualified Equity Investment. The Fund will publish a separate notice seeking public comments regarding other information collections contained in the allocation agreement (e.g., use of QEI proceeds).
Funding Opportunity Title: Revised Notice of Funds Availability (NOFA) Inviting Applications for the FY 2007 Funding Round of the Native American CDFI Assistance (NACA) Program
Document Number: E6-16388
Type: Notice
Date: 2006-10-04
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
On December 21, 2005, the Community Development Financial Institutions Fund (the Fund) published a NOFA in the Federal Register (70 FR 75872) in connection with two consecutive funding rounds of the NACA Program: (i) The FY 2006 Funding Round and (ii) the FY 2007 Funding Round. Through this revised NOFA, the Fund announces revised dates for the FY 2007 Funding Round. Because the FY 2006 Funding Round is now complete, this revised NOFA is being issued for the FY 2007 Funding Round only. Parties interested in the FY 2007 Funding Round should review and refer to this revised NOFA, disregarding the December 21, 2005 NOFA, as the FY 2007 Funding Round dates in the December 21, 2005 NOFA have been changed.
Community Development Financial Institutions Fund
Document Number: 06-7474
Type: Notice
Date: 2006-09-06
Agency: Department of the Treasury, Community Development Financial Institutions Fund, Department of Treasury
Proposed Collection; Comment Request: Community Development Financial Institutions Fund: Comment Request on Continuing Collection of Information From Community Development Financial Institutions Program Awardees, Native American CDFI Assistance Program Awardees, Native American Technical Assistance Program Awardees, Native American CDFI Development Program Awardees, and New Markets Tax Credit Program Allocatees
Document Number: E6-14491
Type: Notice
Date: 2006-08-31
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
The Community Development Financial Institutions Fund (the Fund), a government corporation within the Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, is soliciting comments on continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law No. 104- 13 (44 U.S.C. 3506(c)(2)(A)): (i) Community Development Financial Institutions Program Awardee Annual Report (OMB Number 1559-0006) (hereafter, the Annual Report), and (ii) Annual Survey: Institution Level Report; Transaction Level Report; IRS Compliance Questions (OMB Number 1559-0027) (the Annual Survey). The two documents comprise certain reporting requirements for participants in the Fund's Community Development Financial Institutions (CDFI) Program, Native American CDFI Assistance (NACA) Program, Native American Technical Assistance (NATA) Program, Native American CDFI Development (NACD) Program, and New Markets Tax Credits (NMTC) Program. This notice further serves to consolidate the Annual Report and the Annual Survey. The combined reports shall be referred to as the Annual Report. The Annual Report forms (and related documents, including the CDFI Program assistance agreement, the NACA/NATA/NACD Program assistance agreement, and the NMTC Program allocation agreement) may be found at the Fund's Web site at http://www.cdfifund.gov.
Community Development Financial Institutions Fund
Document Number: E6-14253
Type: Notice
Date: 2006-08-28
Agency: Department of the Treasury, Community Development Financial Institutions Fund, Department of Treasury
On December 21, 2005, the Community Development Financial Institutions Fund (the Fund) published a NOFA in the Federal Register (70 FR 75860) in connection with two consecutive funding rounds of the CDFI Program: (i) The FY 2006 Funding Round and (ii) the FY 2007 Funding Round. Through this revised NOFA, the Fund announces revised dates for the FY 2007 Funding Round. Because the FY 2006 Funding Round is now complete, this revised NOFA is being issued for the FY 2007 Funding Round only. Parties interested in the FY 2007 Funding Round should review and refer to this revised NOFA, disregarding the December 21, 2005 NOFA, as the FY 2007 Funding Round dates in the December 21, 2005 NOFA have been changed.
Comment Request: Community Development Financial Institutions Fund: Comment Request on the Release of Transaction Level Report Data and Allocation Tracking System Data Provided by New Markets Tax Credit Program Allocatees
Document Number: E6-13321
Type: Notice
Date: 2006-08-15
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
Currently, the Community Development Financial Institutions Fund (the Fund), a government corporation within the Department of the Treasury, is soliciting comments on the release of Transaction Level Report Data and Allocation Tracking System Data provided to the Fund by New Markets Tax Credit (NMTC) Program allocatees.
Proposed Collection; Comment Request
Document Number: E6-10412
Type: Notice
Date: 2006-07-05
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community Development Financial Institutions Fund (the ``Fund'') within the Department of the Treasury is soliciting comments concerning the Fund's Financial Assistance and Technical Assistance Programs of the Fund's Community Development Financial Institutions (CDFI) Program.
Community Development Financial Institutions Fund: Open Meeting of the Community Development Advisory Board
Document Number: E6-4543
Type: Notice
Date: 2006-03-29
Agency: Department of the Treasury, Community Development Financial Institutions Fund, Department of Treasury
This notice announces the next meeting of the Community Development Advisory Board (the Advisory Board), which provides advice to the Director of the Community Development Financial Institutions Fund (the Fund).
Amendment of Notice of Allocation Availability (NOAA) for the CY 2006 Allocation Round of the New Markets Tax Credit Program
Document Number: E6-3372
Type: Notice
Date: 2006-03-10
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
The Gulf Opportunity Zone Act of 2005 (GO Zone Act or Act) was signed into law on December 21, 2005 (Pub. L. 109-135). The GO Zone Act provides $1 billion of additional New Markets Tax Credit (NMTC) allocation authority for use by Community Development Entities (CDEs) with a significant mission of recovery and redevelopment of the Gulf Opportunity Zone (GO Zone). The Act makes available an additional $300 million in allocation authority for each of the calendar year (CY) 2005 and 2006 allocation rounds and an additional $400 million in allocation authority for the CY 2007 allocation round. Pursuant to Section 45D(f)(3) of the Internal Revenue Code, the Community Development Financial Institutions (CDFI) Fund will carry over the CY 2005 allocation authority to the CY 2006 allocation round that was announced by the Notice of Allocation Availability published on July 15, 2005 (70 FR 41075), as amended on September 14, 2005 (70 FR 54446) (together, the NOAA), such that an additional $600 million in allocation authority will be available for allocation to applicants in the CY 2006 round of the NMTC Program that satisfy the GO Zone allocation eligibility requirements set forth below. Go Zone Allocation Eligibility: Through this notice, the CDFI Fund is not soliciting, nor will it accept, any new applications for the CY 2006 NMTC Program allocation round. To be eligible to receive an allocation from the $600 million of GO Zone allocation authority available in the CY 2006 NMTC Program allocation round, an applicant must meet all of the following criteria: (i) The applicant must have submitted an allocation application by the deadline required by the NOAA (or by any deadline extension authorized by the CDFI Fund); (ii) The applicant must have satisfied all eligibility requirements contained in the NOAA (including minimum scoring thresholds set forth in section V.B of the NOAA); and (iii) The applicant must have a significant mission of recovery and redevelopment of the GO Zone. In order to demonstrate a ``significant mission of recovery and redevelopment of the GO Zone,'' a CDE must have, at a minimum: (A) Indicated (in its response to Question 12 of the allocation application) that the GO Zone is included within its particular geographic service area; (B) specified (in its response to Question 29 of the allocation application) that it intends to target activities to Low-Income Communities in certain Federal Emergency Management Agency (FEMA)-declared disaster areas; and (C) demonstrated to the satisfaction of the CDFI Fund that it has significant resources in the GO Zone to support its recovery and redevelopment efforts and a significant track record of providing financing and related services in the GO Zone. The GO Zone is defined in the GO Zone Act as ``that portion of the Hurricane Katrina disaster area determined by the President to warrant individual or individual and public assistance from the Federal Government under the Robert T. Stafford Disaster Relief and Emergency Assistance Act by reason of Hurricane Katrina'' (Pub. L. 109-135, Section 101). The Hurricane Katrina Disaster Area is defined as ``an area with respect to which a major disaster has been declared by the President before September 14, 2005, under section 401 of such Act by reason of Hurricane Katrina'' (Pub. L. 109-135, Section 101). The CDFI Fund will contact each CY 2006 NMTC applicant that satisfies items (iii)(A) and (B) above, and ask each such applicant to submit responses to a supplemental questionnaire that will help the CDFI Fund evaluate whether the applicant has a significant mission of recovery and redevelopment in the GO Zone. Such applicants must provide the CDFI Fund with responses to the supplemental questionnaire by the deadlines established by the CDFI Fund; failure to meet said deadlines will result in a determination of ineligibility for a GO Zone allocation. After the CDFI Fund confirms that the GO Zone is included within an applicant's particular geographic service area and that the applicant intends to target activities to Low-Income Communities in certain FEMA- declared disaster areas, then the CDFI Fund reviewers will rate (i) whether the applicant has significant resources in the GO Zone to support its recovery and redevelopment efforts and (ii) the applicant's track record of providing financing and related services in the GO Zone. In assessing whether the applicant has significant resources in the GO Zone to support its recovery and redevelopment efforts, reviewers will consider, among other things, the applicant's (or its Controlling Entity's) current physical presence in the GO Zone. In assessing an applicant's track record of providing financing and related services in the GO Zone, reviewers will consider, among other things, the applicant's (or its Controlling Entity's) track record of providing financing products and services in the GO Zone over the past five years. Go Zone Allocation Determinations: The CDFI Fund will evaluate and score all applications, rank all applicants, and make final allocation determinations in accordance with the policies and procedures set forth in section V.B of the NOAA and this amendment. Final allocation determinations for the $3.5 billion in allocation authority described in the NOAA will be awarded prior to allocation determinations for the $600 million in GO Zone allocation authority. After the CDFI Fund has made its final allocation determinations for the $3.5 billion allocation authority, it will make final allocation determinations for the GO Zone allocation authority in rank order of score, with priority to those applicants that were rated as having the strongest significant mission of recovery and redevelopment of the GO Zone but were not selected to receive an allocation under the initial $3.5 billion of allocation authority. If allocation authority is still available, the CDFI Fund may provide additional GO Zone allocation authority to eligible applicants that were selected to receive an allocation from the initial $3.5 billion, provided the CDFI Fund determines that they have the capacity to administer additional allocation authority in the GO Zone. Unallocated GO Zone allocation authority, if any, will be carried over to the CY 2007 round of the NMTC Program, pursuant to IRC 45D(f)(3). Go Zone Allocation Agreement Terms: All CDEs that are awarded GO Zone allocation authority will be required, as a condition of their allocation agreements with the CDFI Fund, to invest 100 percent of the Qualified Low-Income Community Investments (QLICIs) from the GO Zone allocation in the GO Zone. In addition, GO Zone CDEs will be required to maintain accountability to the GO Zone through their advisory or governing board representation. Additional terms and conditions for GO Zone allocation authority will be set forth in the allocation agreements. All other information and requirements set forth in the NOAA shall remain effective, as published.
Proposed Collection; Comment Request
Document Number: E6-2834
Type: Notice
Date: 2006-03-01
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community Development Financial Institutions Fund (the Fund), a government corporation within the Department of the Treasury, is soliciting comments concerning the ``New Markets Tax Credit (NMTC) ProgramCommunity Development Entity (CDE) Certification Application'' (hereafter, the Application).
Proposed Collection; Comment Request
Document Number: E6-2833
Type: Notice
Date: 2006-03-01
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
The Department of Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community Development Financial Institutions Fund (the Fund), a government corporation within the Department of the Treasury, is soliciting comments concerning the draft ``Survey of CDFIs to Gather Feedback on the Effectiveness of the Programs of the CDFI Fund of the U.S. Department of the Treasury'' (hereafter, the Survey).